Consulting and knowing your worth - Hustler Daily Thumbs Up - October 4

Hello fellow Encore Hustlers

Consulting can be a very profitable second act for many encore hustlers.  So why not cash in on your years of experience and expertise by pursing a consulting gig?

At one time when Mr EH was working for a consulting engineering group we found that, in many cases, it was difficult to compete against retired engineers who could undercut our hourly rates.

In most cases they could earn more than they did pre-retirement, and they could still beat our rate sheet.

After all, a second act consultant didn't have our office overhead, and didn't have to pay for benefits such as health insurance, vacation and 401k.  Also, to find clients, they could tap into a rich networking pool of their former employers, customers, suppliers and industry committees.

If you are considering consulting, read this article from considerable.com. The article has good points about how how to prepare to be a consultant and how to get over the hurdle of negotiating your rates.

Also check out the website irelaunch.com which is dedicated providing resources to professionals returning to the workforce after retirement.

I would love to receive any comments or feedback from this post.  If you have ideas for posts or would like to be featured in a future post please contact me.

Cheers,
Mr EH

This third act is totally legal - Hustler Daily Thumbs Up - July 2

Hello fellow Encore Hustlers

Another name for an encore hustle is a second act career.  So what happens when you pursue a third act career?  Read this article about Too Yong Chuan from Singapore who joined the Singapore Straits Times as a correspondent in. 2011 after 18 years as a civil servant.  After surviving several reorganizations at the Straits Times he made the decision in 2017 to enroll in law school as a part-time student.

To prepare for the four year commitment he paid off his mortgage and enlisted the support of his wife and children.  While he is the oldest student in his class he feels that his life experience gives him an advantage over his much younger cohort.  He also hopes that this will provide him an advantage when he applies for a law clerking position in two years.

I somehow have the feeling that Mr. Chuan will not settle for just a third act when it comes to career reinvention.

Cheers,
Mr. EH